I wanted to wait till this morning to see how the markets did overseas before posting this article. And it will be interesting to see what happens at the opening bell this morning on Wall Street. In the meantime…

Like I said in yesterday’s article…I am no expert, just some old guy rambling off at the mouth. But let me share this with you…

• Yup, looks as if the markets are stabilizing a bit, including overseas.
• Nope, they won’t gain back the losses today from yesterday, probably not even gain it back in a week, two or maybe never.
• Yes, it is all being manipulated.

Let me add to all of the above a few facts as I see them and how they apply to what’s happening…

• Individual debt (consumer debt) is at a record high.
• Corporate debt is at a record high.
• US federal government debt is at a record high with NO ability to overcome it.
• Credit card delinquency is at a record high.
• Car repossessions are at a record high.

But let’s not forget inflation…

• Gas around here is double (100%) higher than it was 4 yeas ago.
• Milk here locally is almost double (100%) higher than it was 4 yeas ago.
• Home loan mortgage interest rates are more than double what they were 4 years ago.
• Home prices are 50% more than they were 4 years ago.
• Real wages have tanked considerably from 4 years ago.

Confirmed with…Well, lower end retailers such as Walmart and McDonald’s (along with a host of others) have been saying for a year now that lower income, lower spending consumers are spending considerably less money than they were 4 years ago…and that has these retailers EXTREMELY worried.

Add all this together it comes to one single issue…people are running out of money.

Forget the rich folks…they are doing fine by all measures. It is the middle income and lower income people that are falling apart financially. How? They are running out of money. Yup, that is the bottom line…simply running out of money.

Now what happens?

• More credit card delinquencies.
• More car repossessions.
• More home loss and evictions.
• Falling real wages.
• Lower consumer spending at the middle and lower income levels.
• And the economy will continue to falter, fail, and disintegrate.

At least that is what I can view from my roost. But who am I to say?

Pray, Plan, Prepare.

Related Articles –

• The Markets & Economy…what the hell???
• Blithering idiots !
• SitRep – 5/23/2024
• SitRep – 5/31/2024 (Economy)
• So how’s the economy really doing??? AMAZING!!
• Brain Dump – 8/22/2023
• Economy Manipulated ? ?

Q & A Time…Ask me a question or send me a message…

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